Banks want between 15% and 20%, on average.— Shaun Rademeyer, BetterLife Home Loans
The slowing economy has not as yet caused a decline in the percentage of home loans applications that banks approve.
Banks have, however, started to raise deposit requirements in recent months.
The Money Show’s Bruce Whitfield interviewed BetterLife Home Loans CEO Shaun Rademeyer.
Scroll down for quotes from the audio below.
Banks are managing risk with higher deposits.— Shaun Rademeyer, BetterLife Home Loans
It’s not just about your personal track record, but also about the area in which you’re buying.— Shaun Rademeyer, BetterLife Home Loans
A bigger deposit gets you a better interest rate.— Shaun Rademeyer, BetterLife Home Loans
Recommendedby NEWSROOM AI
VAT is on the rise… Petrol levies are up… Bruce Whitfield asks small business guru Pavlo Phitidis to give advice.
Not convinced? The Money Show's Bruce Whitfield asks Personal Financial Advisor Warren Ingram for tips to budget well.
The Money Show’s Bruce Whitfield interviews Old Mutual Group Chief Executive Bruce Hemphill.
If this is the only business content you consume all week; you’re all right.
Take these 5 steps, says Personal Finance Consultant Samke Ngwenya, and you’ll have your bank’s approval in no time.
A new cellphone application helps people access their credit profiles and safely upload their full credit reports.
The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.
Following a spate of farm murders in the Cape, the policing expert says there aren't enough stats available on farm killings.
Stephen Grootes says he believes former Eskom CEO Brian Dames when said he was not formally introduced to the Gupta family.
Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.
The EFF lawyer stole the show during the state capture report court battle.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...